Overview
- SK hynix submitted and amended an F‑1 registration with the U.S. SEC this week to list American Depositary Shares on Nasdaq under the ticker SKHY and to sell up to 17.79 million ADSs, about 2.5% of its shares.
- The company set a bookbuilding timetable with managers BofA, Citi, Goldman and J.P. Morgan to begin bookbuilding on July 6, set a final price on July 9, and start Nasdaq trading targeted for July 10.
- SEC filings show the deal would target roughly $29.4 billion at an implied ADS price near $166 and that proceeds are allocated for capital expenditure, including about 45.5 trillion won for plant construction and about 11.9 trillion won for EUV scanners.
- An amended filing newly discloses a putative antitrust class action in the U.S. Northern District of California alleging a DRAM supply‑restriction scheme beginning in late 2022, creating an added legal risk for the offering.
- Analysts say the U.S. listing could boost SK hynix’s valuation by roughly 20% and narrow gaps with U.S. peers, but key risks include final SEC clearance and pricing, the antitrust suit, large fab construction and yield ramps, and the possibility that new supply later cools the memory upcycle.